Mayor Williams Seeks City Council Approval to Improve Streets and Roadways
Posted on 03/06/2014 2:14 pm
Mayor Dennis P. Williams submitted a proposal for City Council approval to execute street paving and roadway reconstruction throughout the City of Wilmington. The Administration has requested the City Treasurer’s Office to issue a General Obligation Bond Anticipation Note (BAN) to finance City street paving and reconstruction of various streets and roadways, which will also repair potholes caused in part by the significant number of harsh, winter storms.
The BAN, which Treasurer Supinski looks to issue immediately upon Council approval, may not exceed $4 million, and has an expected fiscal impact of approximately $50,000. The resurfacing of City streets will be critical to providing smooth, safe, and accessible transit routes for citizens to travel to and from school, work, and around the City every day.
“Our streets are an important part of the City's infrastructure. They are our means of transport, and connect us to all the places around the City, whether we walk, drive, bike, or ride public transit,” said Mayor Williams. “We are responsible for maintaining and ensuring that our streets are clean, accessible and, most importantly, safe. I hope Council is willing to support our efforts to improve the City’s streets.”
Once the BAN is approved by Council, the City can begin street paving and reconstruction in the spring, as opposed to waiting until the fall, when the City Treasurer’s Office expects to go to the Bond Market for the biannual capital improvement.
“The current need for street repairs is a perfect example of the types of need Bond Anticipation Notes satisfies,” said City Treasurer, Henry W. Supinski.
Tonight, the Administration’s request for the BAN will go before City Council as an ordinance for the first and second reading.